I suspect the next well they drill in Gambia (if they do drill...

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rollacoaster

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23/01/22

14:11

Post #: 59071001
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Originally posted by Mr.Hustler ↑

Hi Rolla,

In the oil industry its quite normal to drill multiple times in the same lease if they find signs of an active source. If there was no sign of oil period, they would pack their bags.

I agree with you that many would like them to sell up as we'd probably get triple our current sp on cash in bank, future payments and existing leases which is preferable for those wanting to exit.

But the reality is that no management would cater for those wanting to leave, just those staying. I think the only hope is whether all the majors want out or someone decides to give us an unsolicited offer for the company ( which potentially gets put to a vote). Offer would still need to be realistic to be brought to shareholders. Someone offering 50 cents would not get a look in.

So only option for most wanting out is to accept a market price they are happy with.

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I suspect the next well they drill in Gambia (if they do drill another well) will be in the A5 block quite some distance from Samo and Bambo and even further away from SNE.

my crystal balls say it will be a wildcat with something like a 25% geological chance of success (and a 15% commercial chamce of success).

The narrative the likes of KKW will say is that the oil definitely migrated south, with that claim based on absolutley nothing.

FAR Price at posting: 34.5¢ Sentiment: Hold Disclosure: Held
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